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Economics

A competitive market is made up of 100 identical firms. Each firm has a short-run marginal cost function as follows: MC 0.5Q where Q represents units of output per unit of time. The firm's average variable cost curve intersects the marginal cost at a vertical distance of 10 above the horizontal axis.

a. Determine the market short-run supply curve.

b. Calculate the price that would make 2,000 units forthcoming per time period.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92188311

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